Intech Investment Management LLC Acquires 260,746 Shares of Starbucks Co. (NASDAQ:SBUX)

Intech Investment Management LLC increased its holdings in Starbucks Co. (NASDAQ:SBUX) by 365.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 332,154 shares of the coffee company’s stock after purchasing an additional 260,746 shares during the period. Intech Investment Management LLC’s holdings in Starbucks were worth $31,890,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SBUX. Orca Investment Management LLC lifted its position in Starbucks by 6.6% during the 4th quarter. Orca Investment Management LLC now owns 7,494 shares of the coffee company’s stock worth $719,000 after acquiring an additional 466 shares during the last quarter. Cerity Partners LLC lifted its position in Starbucks by 481.9% during the 4th quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock worth $148,567,000 after acquiring an additional 1,281,471 shares during the last quarter. Metis Global Partners LLC lifted its position in Starbucks by 15.4% during the 3rd quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company’s stock worth $5,197,000 after acquiring an additional 7,619 shares during the last quarter. Summa Corp. acquired a new position in Starbucks during the 4th quarter worth $384,000. Finally, FFT Wealth Management LLC acquired a new position in Starbucks during the 4th quarter worth $209,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Performance

SBUX traded up $0.56 during trading on Friday, reaching $78.87. 10,746,166 shares of the company’s stock were exchanged, compared to its average volume of 17,810,700. The company’s fifty day moving average price is $84.08 and its 200-day moving average price is $91.79. Starbucks Co. has a fifty-two week low of $71.80 and a fifty-two week high of $107.66. The firm has a market capitalization of $89.34 billion, a PE ratio of 21.73, a P/E/G ratio of 1.72 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The firm had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. During the same period last year, the firm earned $0.74 EPS. Starbucks’s quarterly revenue was down 1.8% on a year-over-year basis. Research analysts forecast that Starbucks Co. will post 3.59 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s payout ratio is presently 62.81%.

Insider Buying and Selling

In related news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of the transaction, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of the transaction, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,750 shares of company stock valued at $642,050. Company insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SBUX shares. Citigroup cut their target price on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. HSBC cut their price objective on shares of Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a research report on Friday, May 3rd. Stephens reaffirmed an “equal weight” rating and set a $110.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. Stifel Nicolaus cut their price objective on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, May 1st. Finally, TD Cowen cut their price objective on shares of Starbucks from $100.00 to $85.00 and set a “hold” rating for the company in a research report on Wednesday, May 1st. Seventeen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $96.43.

Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.